1. Applicant―one or more natural persons or a state-chartered financial institution seeking a certificate of authority from the commissioner to transact business as a financial institution, or a branch thereof, as defined below.
2. Application―shall consist of forms provided by the commissioner, submitted in a form acceptable to the commissioner, along with all supporting documents, requesting that a certificate of authority be granted.
3. Branch or Branch Office―for the purpose of making application to this Office means any manned office of a bank. This excludes off-site electronic financial terminals and loan production offices which are owned or leased by the financial institution.

4. Commissioner―the Commissioner of Financial Institutions.

   Deposit Production Office—a physically manned location, in the State of Louisiana, in another state, or the District of Columbia, other than the main office or branch office of a financial institution, from which the financial institution intends to provide information about deposit products offered by such financial institution, solicit deposits, and assist persons in completing application forms and related documents to open deposit accounts. A deposit production office may be a wholly-owned operating subsidiary of a financial institution. A deposit production office may also be referred to in this rule as a “DPO”.

5. Electronic Financial Terminal (EFT)―

   1. 1. an electronic information processing device, other than a telephone, which is established to do either or both of the following:

      1. a. capture the data necessary to initiate financial transactions; or
      2. b. through its attendant support system, store or initiate the transmission of the information necessary to consummate a financial transaction;
   2. 2. the term includes, without limitation, point of sale terminals, merchant-operated terminals, script or cash dispensing machines, and automated teller machines.
6. Financial Institution―any bank, savings bank, homestead association, building and loan association, or savings and loan association chartered by the commissioner.

7. Investigation―the commissioner or any examiner or examiners designated by the commissioner shall make such investigations as deemed necessary to assist in the determination of matters pending before the commissioner. The investigation shall include an examination of each of the six factors detailed in §503.C.

   Loan Production Office―a physically manned location, in the state of Louisiana, in another state or the District of Columbia, other than the main office or branch office of a financial institution from which the financial institution intends to provide information about, and solicit and/or originate applications for, loans, by such financial institution. A loan production office may be a wholly-owned operating subsidiary of a financial institution. A loan production office may also be referred to in this rule as an “LPO”.

8. "Phantom" Financial Institution―a corporation organized as a state, nondeposit taking financial institution, for the purpose of facilitating the organization of a holding company.
9. Relocation of a Branch Office―a movement within the same neighborhood that does not substantially affect the nature of business or customers served.

Authority Note

AUTHORITY NOTE: Promulgated in accordance with R.S. 6:121(B)(1).

Historical Note

HISTORICAL NOTE: Promulgated by the Department of Economic Development, Office of Financial Institutions, LR 19:1414 (November 1993), amended by the Office of the Governor, Office of Financial Institutions, LR 31:2894 (November 2005), amended by the Office of the Governor, Office of Financial Institutions, LR 31:2894 (November 2005), LR 46:1387 (October 2020).